KPN completes sale of Belgian unit

Jan. 6, 2003
6 January 2003 -- Amsterdam-based telecoms group KPN has completed the sale of its Belgian data unit to fellow Dutch telecoms firm Scarlet.

6 January 2003 -- Amsterdam-based telecoms group KPN has completed the previously announced sale of its Belgian data unit to fellow Dutch telecoms firm Scarlet.

KPN has also reached a basic agreement to sell its web unit Planet Internet Belgium to privately owned Scarlet and hopes to complete that deal by mid-February.

The move is in line with KPN's stated policy to sell non-core and loss-making units in order to cut a debt pile of about EUR15bn amassed to expand its foreign mobile and Internet operations.
About 200 staff will be transferred to Scarlet as part of the data unit sale.

www.kpn.com

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